Morgan Stanley CEO John Mack Breaks Bread With Gasparino (Clip)
Excellent interview with outgoing Morgan Stanley CEO John Mack from September 11, as he sits down with Gasparino and the CNBC Power Lunch crew. Caruso-Cabrera and Bill Griffeth also participate. Leverage on Wall Street and the financial crisis dominate the discussion, and Charlie doesn't disappoint as he takes a few shots at Bernanke, Geithner and the other failed regulators.
Can't say the same for Mack, as he offers the golden excuse that "no one saw it coming." What a load of bullshite, as he dutifully joins the long list of regulatory apologists. The Gasparino shot at Hillary Clinton was entertaining as well. The clip improves after the 5 minute mark.
Video runs 15 minutes...if you're pressed for time, skip to the 5:45 mark to begin watching.
(If you're one of our 12,000 daily readers by RSS and email who don't visit the site, do you know that we stuff our comments sections for every story full of links? If you like financial and market news, then click through to our stories and see what we're linking. Thanks!)
Sep 22, 2009 at 4:39 PM
Reader Comments (9)
Medal of Honor: Top Analyst Josh Rosner Nailed the Crisis
http://wallstcheatsheet.com/knowledge/medal-of-honor-top-analyst-josh-rosner-nailed-the-crisis/?p=1959/
http://blogs.wsj.com/deals/2009/09/22/a-review-of-michael-moores-new-movie-capitalism-a-love-story/
Michael Moore After Party
http://corner.nationalreview.com/post/?q=NzRkM2VjNTk1YjZhZDJjNzk0ZmU0M2U1NjQzNzZiNTE=
Anti-Capitalist Filmmaker Enjoys Vulgar Displays of Wealth
http://www.nytimes.com/reuters/2009/09/22/business/business-uk-eu-banks.html?_r=1
http://www.dailymail.co.uk/tvshowbiz/article-1215105/The-moment-Gordon-Gekko-released-prison-Wall-Street-sequel.html
http://www.bloomberg.com/apps/news?pid=20601116&sid=avx5Z1IFgWYM
High-end matchmaker Samantha Daniels talks about the new dating landscape for bankers.
http://money.cnn.com/2009/09/17/magazines/fortune/banker_dating_matchmaker.fortune/?section=magazines_fortune
Central Bankers focus on expanding the sale of the chief product of its members -- debt contracts. Central Bankers control this through the rental rate of cash. Bank credit -- mortgages, car loans, credit cards, home equity loans, personal loans -- dominates the economy.
Under Free Banking Capitalism, cash and private credit -- factoring, interpersonal credit -- dominates the economy.
Central Bank Capitalism works on behalf of Officialdom and behemoth corporations. Free Banking Capitalism works on behalf of individuals and Freedom.
Which do you favor?
Nice post...